MIRL, KTN, SSL
Minera IRL aka MIRL announced they have discovered a new area of minerlization at the limits of current workings at their Corihuarmi gold mine in Peru. This mine was opened in 2008 with a projected four year mine life, but it's the gift that keeps on giving, as they have always been able to find enough new gold to justify the continuation of mining, a good thing or the company would have gone bust long ago.
Alas, still no word on getting rid of the corrupt overpaid CEO who uses the company to siphon money to his family and cronies.
Message 33983294
Kootenay Silver aka KTN continues to drill up the D and F veins at its Columba prospect in Chihuahua, Mexico, with the headline intersections being 2,330 g/t Ag, 0.06% Pb, and 0.80% Zn across 1.63M, and 574 g/t Ag, with 0.19% Pb, and 0.66% Zn over 3.9M. The D vein has now been extended to 425M and a depth of 340M, and the F vein to a length over 1 km and a depth of 160M, with both remaining open in multiple directions. Drilling continues on both. With that much potential ore already defined, I would not be surprised to see KTN follow their usual practice of attracting a deep pocketed partner to JV the property and take over the expenses.
Message 33983351
Sandstorm Gold Royalties aka SSL announced they completed the transformation back into a pure royalty/streaming company by engendering the reverse takeover that is creating Horizon Copper (HCU), which will receive SSL's 30% stake in the Hot Maden development project in Turkey, a 25% stake in ETG.TO, and a copper stream. In return SSL will receive a gold stream on Hot Maden, a secured convertible promissory note worth $95M, a 34% stake in HCU, and an right of first refusal on all future streams emitted by HCU.
It is clear that HCU and SSL plan to maintain a close relationship, I hope to the benefit of both. I will be looking into HCU as to whether it is worth investing in.
Message 33983320
In response, TD issued a new analyst report on SSL seeing the impact as Slightly Positive, given how advanced Hot Maden is through the permitting process, but kept them at Buy with a target of $10.50.
Saville points out that in recent years, gold stocks have made reversal, either up or down, in August/September. Given that the recent trend is down, this points to an upward reversal in the near future. Of course, these kinds of indicators always work until they don't, but IMO he is probably right. |
